New HUD structure and how it affects property preservation industry

New HUD structure is government at its best. Here are the details on the new structure.
Mortgagee Compliance Manager – Nationwide, awarded to MCB

The Mortgagee Compliance Manager (MCM) performs a variety of pre- and post- property conveyance services to ensure that HUD's interests are protected. These services include: reviewing property inspections to ensure the property is in conveyance condition; resolving conveyance exceptions; providing guidance to Mortgagees related to pre-conveyance and post-conveyance responsibilities; and leveraging HUD's software and information systems to execute and complete the tasks within this contract.

1. The migration of all states is not complete however all states that we work in except MI have been transitioned to the new structure. MI is still managed by MCB on the old structure.



Field Service Manager – Regional – contractor by state is attached

Field Service Managers (FSM) are companies that provide property preservation and protection services consisting of, but not limited to, inspecting the property, securing the property, performing cosmetic enhancements/repairs, and providing on-going maintenance. Properties acquired by HUD will be assigned to FSMs. There will be multiple contracts awarded through each HOC, with the FSMs competing for new acquisitions through their respective HOCs.



Asset Manager – Regional – contractor by state is attached

The AMs are responsible for the marketing and sale of REO property. Multiple AMs will be contracted to market HUD-owned properties within their selected contract area within their geographic HOC areas.

TypePad Conversations » Answer this question!